Market Insights 08/08/2025

DAILY MARKET REPORT – 08/08/2025

A small downward movement seen yesterday.

Presidents Trump and Putin will meet in the coming days it has been confirmed, although remains unclear if President Zelenskyy will also be present. The meeting comes at the expiry of the recent deadline set by President Trump on Russia to end the conflict.

That meeting may well be a driving catalyst for many things. More widely, President Trumps tariffs have impacted many markets around the world, including European energy markets, and remain a hot topic some four months after they were initially announced as trade deals and deadlines continue to be announced.

Yesterday saw the TTF Front Month contract settle at €32.96 (from €33.26) and the NBP Front Month contract at 81.04p (from 82.11p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 340mcm (342). EU gas storage showing at 70.67% (70.35%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 1 (1).

This morning we see the Front Month TTF contract at €33, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €33, Front Season €34 (vs €33 and €35)
Curve NBP Front Month 81p, Front Season 90p (vs 82p and 91p)
UK Gas NBP spot 78p (from 79p)
UK Power Base spot £60 (from £54)

UK power prices show the UK Front Month Baseload contract at £78 (£78) and Front Season at £84 (£84).

In other areas of the market Brent Oil is at $66 ($67) and EUAs are at €72 (€71). Henry Hub is at $3.07 ($3.08) and JKM is at $11.94 ($11.93) with TTF Equiv of $11.25 ($11.36).

Numbers in brackets show the previous reports value.